SUGAR LAND, Texas, Aug. 11 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU), a manufacturer of advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, takes this opportunity to announce that Exousia's relationship with Northern International Group (NIG) is in excellent condition.
As previously reported, NIG had committed to purchase a minimum of 200,000 gallons of Exousia's industrial coatings on an annual basis. Chairman and CEO of Exousia, J. Wayne Rodrigue, explained, "NIG's senior management has repeated their intention to purchase a minimum of 200,000 gallons per year to honor their exclusive distribution agreement, which is for 10 years. The total value of the agreement is $80M to $100M or $8M to $10M per year." Exousia has fulfilled all remaining requirements for NIG to now begin distributing its PowerShield Brand coatings and NIG is awaiting final approval of its own permit for exclusive distribution rights. To that end, NIG has scheduled another round of training for their sales representatives to be held at Exousia's blending facility in mid August.
Paul Crozier, Managing Director of Tianjin Exousia Advanced Materials, stated, "We continue to be encouraged by the commitment of NIG to incorporate our coatings into their overall product lines. The agreement entered into by our respective companies over a year ago required that we provide NIG with a quality manufacturing plant and train their people. Our plant is state of the art and this will be the second training session that we have provided for NIG. We, along with NIG, anticipate a surge in activity in the 3rd and 4th quarters."
The strategic alliance between Exousia and NIG will initially be focused on the marketing, manufacturing and distribution of Exousia's family of Power Shield high-performance industrial coatings throughout China," commented Mr. Rodrigue. "After that, Mr. Zhang of NIG has requested permission to bring the PowerShield brand of coatings into Vietnam and Thailand where NIG already has several manufacturing facilities and are currently conducting business."
About Northern International Group (NIG)
Ranked amongst the Top 125 companies in China, NIG (www.northernint.com) is an international conglomerate with annual revenues well in excess of $500 million. NIG consists of numerous subsidiary companies with commercial operations spanning some 80 major categories of commodities, including more than 1,200 products exported to over 160 countries throughout the world. NIG is involved in numerous product lines. Additionally, NIG owns nearly 200 Chinese and international trademarks' including some of China's leading consumer brands. The Company is regularly included on lists of leading Chinese enterprises.
About Exousia Advanced Materials, Inc.
Exousia manufactures advanced resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The Company serves both domestic and international markets. Additional information on Exousia can be found athttp://www.exousiacorp.com.
FORWARD-LOOKING STATEMENTS
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
